Bitcoin's 200-day moving average at all-time high...long-term bullish

Bitcoin's (BTC) 200-day moving average is at an all-time high of $51,178. This is a key technical indicator for predicting long-term Bitcoin price trends, suggesting a bullish long-term outlook, according to blockchain news outlet Cointelegraph. The indicator peaked on April 6, according to BuyBitcoinWorldwide. This comes as bitcoin is recovering from a price drop following its April 20 halving.

Speaking on CNBC's Squawk Box, bitcoin investor Anthony Pompliano said of the 200-day moving average breaking above $50,000 for the first time ever, “Bitcoin continues to trend upward in the long term despite the daily price volatility.”

Furthermore, according to analyst Willy Woo, the 200-week moving average, a much longer-term trend indicator, is currently at an all-time high of just over $34,000, which means that the annual trend outlook is much more optimistic.